Airports Company South Africa reports most profitable year

CEO Bongani Maseko and CFO Dirk Kunz of Airports Company South Africa (ACSA) have both affirmed the announcement made by ACSA of achieving a profit of R2-billion for 2016/17 financial year compared to R1.9-billion for 2015/16 financial year.

According to Maseko, “This is probably the best set of results we’ve presented in the history of the company,” while Kunz said “It’s been a stellar performance, with very good financial results.”

During results presentation, reports showed that domestic departing passenger volumes rose by 2.1%, and unscheduled flight departing passenger volumes fell by 11.9%, regional departing passenger volumes increased by 4.5% and international ones by 5.8%.

In terms of aircraft landing volumes, domestic and regional flights saw no change, unscheduled flight landings decreased by 3.3%, but landings by international aircraft rose by 2.7%.

Kunz credited international flights as being the key to the company’s growth during 2016/17, and Maseko stated that “Airports like Cape Town and King Shaka [Durban] reported very strong growth.”

Though been a predominantly State-owned company, ACSA showed itself to be resilient, regardless of the sluggish national economy, and maintained a strong financial profile despite the country’s credit ratings downgrade.

In the 2016/17 financial year, Revenues came to R8.6-billion and earnings before interest, taxes, depreciation and amortisation (Ebitda) were R5.1-billion compared to R8.3-billion and R5.2-billion of the previous financial year.

 

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